Heather Mcardle

Director, Fixed Income Indices
S&P Dow Jones Indices

Heather McArdle is Director of Fixed Income Indices at S&P Dow Jones Indices. She is responsible for the successful launch and management of global fixed income indices, based on the needs of existing and prospective clients.

Heather has over 15 years of fixed income product knowledge in marketing, sales, and trading capacities. Previously, Heather spent 15 years at Citigroup, most recently as the director of international fixed income trading. Prior to this role, Heather was VP of emerging markets fixed income at Citi.

Heather holds a bachelor’s in business/economics from the University at Albany.

Author Archives: Heather Mcardle

In the “Year of Surprises,” UK Bond Markets Manage Their Way

UK bond markets managed to perform well, with significant YTD returns during a year filled with public vote surprises, as well as both rate decreases and hikes globally.  The S&P U.K. Investment Grade Corporate Bond Index had a YTD return of 10.75% as of Dec. 21, 2016, while the S&P U.K. Gilt Bond Index gained Read more […]

Performance Trends in the U.K. Gilt and Corporate Bond Markets

On Aug. 4, 2016, the Bank of England cut its benchmark rate by 25 bps to a low of 0.25%.  This move, coupled with its announcement of a GBP 70 billion expansion of quantitative easing, with GBP 10 billion committed for the purchase of investment-grade corporate bonds, is furthering the positive performance of these asset Read more […]

A Possible Brexit, a Weak Pound, and an Outperforming U.K. Gilt Bond Market

Year-to-date, the U.K. gilt market has performed the best out of all of Europe’s safe-haven government bond markets.  The S&P U.K. Gilt Bond Index has returned 6.15% YTD, one of the highest in Europe.  Yields in U.K. gilts have tightened by 41 bps since the beginning of this year, with the S&P U.K. Gilt Bond Read more […]

February Brings Both the Positive and the Negative in European Government Bond Markets

Germany and Luxembourg government bond yields have tightened nearly 30 bps since the beginning of 2016, moving the S&P Germany Sovereign Bond Index and the S&P Luxembourg Sovereign Bond Index yields back into negative territory (see Exhibit 1).  Yields on both indices last hit negative territory in April 2015, at the height of the Greek Read more […]

European Bond Markets Closing 2015 on Steady Ground, But Needs to Watch Its Step

After much anticipation, the US Fed hiked rates 25bps on Wednesday.  The US Fed indicated further moves would be dependent on global factors and oil prices – a key detail signifying that future rate hikes seem likely to develop on a slower scale, causing a European government bond market rally on Thursday, sending yields lower Read more […]

Equity Markets May Be “Sassy”, But Bond Markets Are The “Cool” Kids On The Block…

Bond markets may not be the most “sassy” of all the asset classes, but they certainly are a lot “cooler” in light of the global equity sell-off of the last two days.   Bond markets are traditionally known to be less volatile than all of the financial asset classes.  Global stock markets are taking serious hits Read more […]

Greece And The ECB: What Precedent Will Be Set For The Eurozone?

Greece has voted “no” to a referendum on further austerity measures proposed by the ECB. Greek PM Tsipras wanted this result, in order to gain more bargaining power with creditors. The ECB reacted accordingly, and placed steeper haircuts on collateral for emergency funding.   This puts additional pressure on a banking system that is already in Read more […]

Greece: Will They Pay Or Will They Go Now?

All eyes are on Greece today, as government leaders indicated they will not be making the much awaited €1.7 Billion payment to the IMF.  This comes after banks have been shut, strict capital controls have been set, and after Standard & Poor’s Ratings Services further downgraded Greek debt to CCC- , with a negative outlook. Read more […]

Uncertainty In Greece Causing Real Concern In European Government Bond Markets

Uncertainty is a four letter word in bond markets and can lead to significant volatility.  The Greek debt dilemma is becoming more and more dire each day.  European government bond markets are reacting with some significant swings.  Germany and the IMF offered Greece a deal last week that would require strict adherence to austerity reforms, Read more […]

European Government Bond Markets Absorb a Lot of Market Info in the First Week of June

European bonds markets had a lot to take in last week.  For the most part, they all responded with a downward price reaction regardless of risk profile, with the exception of Greece.  The ECB left monetary policy unchanged.  Eurozone inflation for May climbed to 0.3%, indicating that QE is having the desired effect.  Greece chose Read more […]